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Expectations-driven liquidity traps : implications for monetary and fiscal policy

Nakata, Taisuke; Schmidt, Sebastian - 2019 - This draft: June 2019

We study optimal monetary and fiscal policy in a New Keynesian model where occasional declines in agents' confidence give rise to persistent liquidity trap episodes. There is no straightforward recipe for enhancing welfare in this economy. Raising the inflation target or appointing an...

Persistent link: https://www.econbiz.de/10012181947

The costs and benefits of fiscal rules : evidence from US states

Alesina, Alberto; Bayoumi, Tamim A. - 1996

Persistent link: https://www.econbiz.de/10000592277

A new fiscal rule : should Israel "go Swiss"?

Debrun, Xavier; Epstein, Natan; Symansky, Steven A. - 2008

Persistent link: https://www.econbiz.de/10003738019

Implementing the new fiscal policy activism

Auerbach, Alan J. - 2009

Persistent link: https://www.econbiz.de/10003812097

Simple, implementable fiscal policy rules

Kumhof, Michael; Laxton, Douglas - 2009

Persistent link: https://www.econbiz.de/10003866283

India's experience with fiscal rules : an evaluation and the way forward

Simone, Alejandro Sergio; Topalova, Petia - 2009

Persistent link: https://www.econbiz.de/10003901117

Alternative fiscal rules for Norway

Jafarov, Etibar; Leigh, Daniel - 2007

Persistent link: https://www.econbiz.de/10003615073

Debt stabilization bias and the Taylor principle : optimal policy in a New Keynesian model with government debt and inflation persistence

Stehn, Sven Jari; Vines, David - 2007

Persistent link: https://www.econbiz.de/10003545159

Jointly optimal monetary and fiscal policy rules under borrowing constraints

Bi, Huixin; Kumhof, Michael - 2009

Persistent link: https://www.econbiz.de/10003942818

The Global Integrated Monetary and Fiscal Model (GIMF) : theoretical structure

Kumhof, Michael; Laxton, Douglas; Muir, D.; Mursula, Susanna - 2010

Persistent link: https://www.econbiz.de/10003963198

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